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Office supply giant Staples Inc. is planning to close as many as 225 North American stores while slashing annualized costs by up to $500 million by the end of 2015. The Framingham, Mass., company, which has been pressured by online competitors such as Amazon.com and is threatened by the merging of Office Depot and Office Max, also said Thursday that sales for the fourth quarter ended Feb. 1 slumped 10.6% to $5.9 billion. The retailer projected that its first-quarter sales would also slide year over year, marking the fifth straight drop for the measure. The company’s stock sank 16.3%, or $2.18, to $11.22 a share in morning trading in New York. Staples has 1,846 stores in North...

Related "OfficeMax Inc." Articles

Office supply giant Staples Inc. is planning to close as many as 225 North American stores while slashing annualized costs by up to $500 million by the end of 2015.
The Framingham, Mass., company, which has been pressured by online competitors such as...

Office supply giant Office Depot Inc. plans to close at least 400 stores in the U.S. following the purchase of rival OfficeMax last year.
The Boca Raton, Fla., company said 150 locations are scheduled to close this year, with the rest closing by the...

An off-and-on customer of OfficeMax, Mike Seay has gotten the office supply company's junk mail for years. But the mail that the grieving Lindenhurst, Ill., father said he got from OfficeMax last week was different.
The envelope appeared to be a...

The U.S. Federal Trade Commission on Friday gave approval to a proposed $1.2-billion merger of Office Depot Inc. and OfficeMax, concluding that the move won't harm competition.
The Trade Commission, which in 1997 blocked the merger of Office Depot Inc....

Here's a business practice likely to keep booming in 2014: corporate extortion.
We don't mean extortion of corporations, as is practiced by Somali pirates or entrepreneurial Russians. We mean extortion by corporations.
In this field the victims are...

An off-and-on customer of OfficeMax, Mike Seay has gotten the office supply company's junk mail for years. But the mail that the grieving Lindenhurst, Ill., father said he got from OfficeMax last week was different.
It was addressed to "Mike Seay,...

With calls for a day of service to the poor and a renewed commitment to nonviolence, Americans on Monday commemorated Martin Luther King Jr. Day, the federal holiday that honors the slain civil rights leader.
President Obama and his wife, Michelle,...

A fire and structural collapse at an animal feed processing plant killed some people and injured at least 10 workers, four critically, the Omaha fire chief said Monday.
Officials had said earlier that the fire at the International Nutrition plant...

HOUSTON — A Mexican national facing execution in Texas this week has drawn support from Mexican officials, a former Texas governor and U.S. Secretary of State John F. Kerry, who appealed to Gov. Rick Perry and state courts for a reprieve — so far,...

CHESTER, Pa. — Authorities said a student at Widener University in suburban Philadelphia was shot Monday night, and the university warned students to remain indoors until further notice.
The school said on its website that the student was shot near the...

Falling in line behind the likes of Macy’s, J.C. Penney, OfficeMax, Kmart and more, Staples is joining the horde of retailers opening its doors on Thanksgiving without bothering to wait for Black Friday.
The office supply chain will open on the holiday...

More retailers than ever are opening their doors on Thanksgiving to lure holiday shoppers with special bargains. Here is a sampling, with starting times on Nov. 28.
Best Buy (6 p.m.)
J.C. Penney (8 p.m.)
Kohl's (8 p.m.)
Kmart (6 a.m.)
Macy's,...

There’s junk mail, and then there’s nasty mail: San Francisco writer Lisa McIntire says Bank of America sent her a credit card offer addressed to "Lisa Is A Slut McIntire," and she posted photos of it on Twitter on Thursday.
BofA tweeted her an...

There's junk mail, and then there's nasty mail: San Francisco writer Lisa McIntire says Bank of America sent her a credit card offer addressed to "Lisa Is a Slut McIntire," and she posted photos of it Thursday on Twitter.
The bank tweeted her...

Moira Hahn, like many consumers, always took it for granted that businesses wanted as much of her personal information as they could get.
She didn't really start thinking about how such practices could come back to bite her until she became one of the...

A report that several private equity firms -- including original investor Bain Capital -- are considering buying Staples Inc. pushed the office supply chain’s stock up as much as 6.2% on Friday.Acquisition talks are still preliminary and any offer...

The stock prices of Office Depot Inc. and OfficeMax Inc. surged Tuesday on word that the companies are contemplating a merger to better compete against Staples Inc.
The two office-supply chains are reportedly in talks that could result in a deal this...

Hewlett-Packard's tablet, the HP TouchPad, is hitting stores on July 1. The new tablet will run HP's WebOS operating system -- which was developed by Palm before that company was taken over by HP -- and will feature an iPad-matching 9.7-inch touchscreen. The

-- Starting Sunday, Toys R Us will begin to sell Amazon's Kindle e-readers and accessories. To celebrate the launch of the product, customers purchasing any Kindle will receive a free $10 Toys R Us gift card from July 31 through ...